Solana gains attention as Dogen rallies by 2,300%

Solana (CRYPTO:SOL) has drawn increasing attention from investors, surpassing Cardano (CRYPTO:ADA) and XRP (CRYPTO:XRP) in popularity amid expectations for an upcoming altcoin season.

Meanwhile, Dogen, a meme-inspired token, has captured the spotlight with an impressive 2,300% rally, shaking the market with its unexpected rise.

Dogen’s sharp increase has set it apart in the meme coin landscape, outperforming more established tokens such as Dogecoin and Shiba Inu.

The token’s appeal is bolstered by an ambitious airdrop and community-building campaign, rewarding early adopters with referral incentives and promising significant returns.

Solana has shown potential for further gains despite a slight weekly decline of 9.11%.

Over the past month, it has increased by more than 13%, trading in the $152 to $178 range and remaining above its 10-day and 100-day moving averages.

Analysts suggest that breaking through the $193 resistance level could propel Solana to $219, marking a potential 20% gain.

The RSI at 55 and positive MACD indicators indicate room for continued growth.

Cardano is trading between $0.32 and $0.36, stabilising near its support level at $0.31.

With an RSI at 52 and a stochastic value of 78, ADA shows signs of upward momentum.

A move above $0.38 could open the path to $0.41, yielding potential gains of around 20%.

Although Cardano has seen a six-month decline of 27%, the anticipated altcoin season offers hope for recovery.

XRP holds steady between $0.4864 and $0.5257, near its moving averages at $0.509.

A breakout above $0.5481 could result in an 8% gain, with further growth towards $0.5874, marking a potential 16% increase.

The technical indicators point to possible upward movement, supported by a positive MACD.

At the time of reporting, the Solana price was $190.42.